Securitization

Democratic leaders are rushing to pass the massive economic stimulus bill and they are urging the House and Senate conferees to agree on a final bill quickly so the House can vote on the bill this Thursday.

In what could be another nail in the coffin of the loan brokerage industry, The PMI Group of San Francisco confirmed Wednesday that it will no longer insure any mortgages brought to them by third-party originators unless these firms have a warehouse line of credit.

DBRS said there are no changes needed in its CMBS rating methodology because of the current market conditions.

Delinquencies in U.K. credit card trusts hit a new high in December 2008, according to Fitch Ratings.

BOK Financial (BOKF) has named Ben Cowen as president of its mortgage unit called BOK Mortgage.

James Lockhart spoke at the American Securitization Forum conference held in Las Vegas this week.

Sandra Thompson, director of the division of supervision and consumer protection at the Federal Deposit Insurance Corp., (FDIC) stated that "we are all facing tough times," which has "caused the government to intervene."

Fitch Solutions will preview two new products at the American Securitization Forum’s (ASF) annual conference that starts this weekend.

The American Securitization Forum (ASF) just announced that Sandra Thompson, director of the division of supervision and consumer protection at the Federal Deposit Insurance Corp. (FDIC), will be speaking at the opening program of the ASF 2009 conference this Monday.

The Federal Reserve Board on Friday released details on the haircuts it plans to take on collateral accepted under a program aimed at reviving consumer lending.

Manager Activity: AutosFull Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market

For the countries of the Gulf, the ABS party's over before it ever got started. Fitch Ratings recently released a brief commentary on how eroding property markets in the region are putting deals in harm's way.

Loan modifications are becoming increasingly common because of the declining housing environment. Although it still remains uncertain how these modifications will play out, ABS players, specifically investors, need all possible tools to cope with the potential repercussions of changes in loan terms on the securities they are invested in. In this roundtable, we found out how market players are using data analysis to understand the impact of loan modifications on ABS portfolios. The discussion was moderated by ASR editor Karen Sibayan.

Covered bonds, a time-tested technique for capital-raising, have been utilized by credit institutions in Germany for over two centuries.

Nearly 70% of existing Dutch RMBS deals include early call options. However, only deals that include a call date in 2012 from larger securitization originators are likely to be called through, according to Societe Generale.

President Barack Obama has been in office for less than a month. But already, there are a slew of new programs on the table slated to boost lending in the structured finance market and jumpstart new deal flow.

"No matter how cynical you get, it is impossible to keep up." -Lily Tomlin.

With consumers under increasing stress, credit card ABS performance has weakened. In anticipation of a prolonged stressed environment for consumers, investors are asking the following questions: if performance continues to deteriorate, what will this mean for credit card ABS ratings?

As in much of the developed world, Kazakhstan has determined that the global crisis has left it with few choices.

Total lending through the Federal Reserve Board's discount window continued to decline this week, falling 3.7%, to $149 billion on Wednesday.